Commercial Real Estate & Business News – August 21, 2023

People who get a lot of rain seem to appreciate a dry climate. Almost half of the 5,300 searchers on Redfin checking out Phoenix area houses during June and July were from Seattle, according to the real estate brokerage. But Washington state overall doesn’t top…»

The growing confidence in the housing market that builders have reported for seven months came to an abrupt halt in August, as rising mortgage rates and shelter inflation made new single-family homes less affordable and dampened consumer demand. These factors have…»

The city of Phoenix is not even close to being built out. In the next 20 years, the Arizona capital is planning for exponential growth with hundreds of thousands of new jobs, especially in the north and south parts of the city. The growth in Phoenix, which is home to nearly…»

A development joint venture has received a loan to start construction of a warehouse in El Mirage, northwest of Phoenix. Silver Creek Development, based in Scottsdale, Arizona, and Atlanta-based Stonemont Financial Group plan to break ground this month on the…»

Mountainside Fitness plans to open its next gym in a former supermarket building at Scottsdale Towne Center by next summer. The new location off Frank Lloyd Wright Boulevard and Loop 101 will overtake a vacated 50,320-square-foot Albertsons and feature amenities such as…»